Archer Aviation (NYSE:ACHR) Stock Price Up 2.1% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 2.1% during mid-day trading on Thursday . The company traded as high as $5.96 and last traded at $5.77. 16,784,643 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 37,535,660 shares. The stock had previously closed at $5.65.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACHR shares. Barclays raised Archer Aviation to a “hold” rating in a research report on Wednesday, July 29th. UBS Group restated an “overweight” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Friday, July 17th. Finally, Canaccord Genuity Group dropped their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.50.

Archer Aviation Trading Up 2.1%

The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.44 billion, a PE ratio of -5.34 and a beta of 3.23. The business’s 50-day moving average is $5.37 and its two-hundred day moving average is $5.82.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.34). The company had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. On average, analysts anticipate that Archer Aviation Inc. will post -1.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric Lentell sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $6.31, for a total transaction of $631,000.00. Following the completion of the transaction, the insider owned 85,011 shares of the company’s stock, valued at approximately $536,419.41. This represents a 54.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Harsh Rungta sold 13,880 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.41, for a total transaction of $88,970.80. Following the sale, the chief accounting officer directly owned 110,847 shares of the company’s stock, valued at $710,529.27. This represents a 11.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 180,411 shares of company stock worth $1,141,141 in the last ninety days. Insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Geneos Wealth Management Inc. increased its position in shares of Archer Aviation by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after acquiring an additional 1,702 shares during the last quarter. Gould Capital LLC boosted its holdings in Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after purchasing an additional 2,507 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares during the last quarter. Strs Ohio acquired a new stake in Archer Aviation during the 1st quarter valued at approximately $27,000. Finally, Modus Advisors LLC acquired a new stake in Archer Aviation during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.